Ely Cathedral ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2013

Transcription

1 at Ely Cathedral ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2013

2 CONTENTS Page Charity Information 3 Report of the Trustees 4 9 Independent Examiners Report 10 Statement of Financial Activities 11 Balance Sheet 12 Notes to the Financial Statements 13 19

3 Registered Charity No Arts Council Accredited Museum No. 574 Registered Office: The Stained Glass Museum, Ely Cathedral, Ely, Cambridgeshire, CB7 4DL PATRON TRUSTEES HRH The Prince of Wales Dr Victoria Avery FSA Sarah Brown MA FSA Anna Eavis Martin Harrison FSA Hon FMGP Anthony Hopkinson Professor Richard Marks FSA Professor Jean Michel Massing FSA Elizabeth Stazicker FSA John Watson Michael Womack SECRETARY Dr Jasmine Allen (appointed February 2013) CURATOR Dr Jasmine Allen (appointed February 2013) TREASURER CONSERVATION ADVISER LEGAL ADVISER BANKERS INDEPENDENT EXAMINER Malcolm Mitchell Sarah Brown MA FSA Mills & Reeve Francis House 3-7 Redwell Street Norwich NR2 4TJ Barclays Bank Plc 28 High Street Ely Cambridgeshire CB7 4LA N G Pollington FCCA Price Bailey LLP Richmond House Broad Street Ely Cambridgeshire CB7 4AH 3

4 REPORT OF THE TRUSTEES Objectives and Policies of the Charity The Stained Glass Museum Trust believes strongly that stained glass forms an important part of our cultural and artistic heritage, and is committed to raising the profile of the medium as an historic and contemporary art form. The Stained Glass Museum exists to collect the finest representative examples of stained glass and associated materials, of all periods. The Museum aims to develop its role as a leading national centre for the display, research, interpretation, and enjoyment of stained glass, while safeguarding and enhancing its collections for the benefit of future generations. The objectives of the Stained Glass Museum are the education of the public in the history and appreciation of stained glass and the operation of a Museum to display and preserve stained glass. Accredited by the Arts Council, it is required to meet its standards for the custody and care of the Collection. collection of stained glass. The Museum was founded in 1972 under a Trust Deed as an independent charitable trust and, after assembling its collection, opened to the public in It is located in Ely Cathedral under a formal 25 year Licence made in 1997 with the Dean & Chapter to occupy the South Triforium. The policy of the Trustees is to continue to build up, through donations, purchases and loans, a comprehensive The Charity is controlled by Trustees selected for their knowledge of stained glass, museum and heritage sector, management, finance and other appropriate subjects. Upon appointment, new Trustees are inducted on the objectives and policies of the charity and on their Trustee responsibilities by the Chairman and the Curator. Existing trustees are provided with training as and when required; this is provided both internally by fellow trustees and where appropriate by outside sources. The Trustees meet at least four times a year to review policy and progress with the Curator and there is also an advisory Acquisition and Disposal Sub-Committee of appointed persons including selected Trustees. A risk review is carried out by the Curator and the Trustees annually, and appropriate steps are taken to mitigate risk. The Trustees are aware of the Charity Commission s guidance on public benefit and the requirements of the Charities Act 2006, including the requirement to report on public benefit. The Museum and library are available to the public at large, as are events, workshops and educational courses organised regularly by the Museum, and members of our active Friends Organisation. The Museum is operated by a Curator, part-time Treasurer and Museum staff, and supported by a several volunteers. The Museum does not receive any government or local council funding. It is mainly funded by visitor admission charges and shop sales, supplemented by donations, and small grants. 4

5 Review of Developments and Activities Flexible Display Project The Stained Glass Museum had a busy year in during which time a major 60,000 flexible display project, Improving the Bigger Picture, was completed, funded by The Fens Rural Development Programme. The project, which began in 2010, was completed in January 2013 under the direction of Interim Manager Will Schenck and the Chairman of Trustees. As part of this project, the main gallery has been redeveloped and two-thirds of the fixed display cabinets have been fitted with a more energy-efficient and cost-effective LED lighting system. Four new portable display cases (right), designed to spec, were also acquired. These cases have provided additional, flexible display space in the gallery and enabled us to launch a programme of temporary exhibitions, held quarterly throughout the year. This has vastly improved the display of the stained glass within the Main Gallery, enhanced our interpretation of the collection and the overall visitor experience. Alongside these changes to the main gallery this project enabled several stained glass panels from the reserve collection to undergo specialist conservation and the website was redesigned. Admissions Visitor numbers to the Museum in were the highest on record at 16,946. The joint ticket scheme with Ely Cathedral remains very successful and forms a significant proportion of the Museum s admissions income. In addition, the Museum also benefitted from the sale of additional joint tickets for the Cathedral Flower Festival in June Shop Several new retail displays were formed in the Museum shop over the year. A range of exhibition merchandise, including mugs, tea-towels and exhibition guides, was developed for a retrospective exhibition on Francis Spear ( ), held in spring Shop sales remain a very significant portion of the Museum s annual income. This year s shop income was enhanced by successful stalls at Ely Cathedral s Christmas Fair and the Flower Festival, as well as a collaboration between the Museum and local artists which upcycled broken fragments of stained glass to be sold as ornaments in order to raise money for the Museum s education programme. Financial Review Taking out the income and expenditure for the gallery project, total income increased from 107k to 113k despite a reduction in donations. Museum expenditure increased to 111k ( 102k 2012) resulting in a reduction in reserves by After transfers for purchase of new glass panels and the value in investments the unrestricted reserves now stand at 179,913 ( 187, ). We continue to seek major donations to help reverse the draw on our reserves, and see other ways of both increasing income and reducing expenditure. As before, fundraising events such as the study days and weekends, and the valued help from our Friends, remain vital in our need to cover outgoings. Governance Trustees Elizabeth Stazicker continued her tenure as Chairman of the Trustees , and provided much-needed support to the Museum over the year, particularly overseeing changes in staff management and supporting the Museum s programme of events and activities. Staff and Volunteers 5

6 saw a change in management at The Stained Glass Museum when Dr Jasmine Allen arrived in late-february to take up the post of Curator, taking over from Will Schenck, Interim Manager. An additional part-time invigilator was also employed, so that the Museum now has 2.9 FTE. Volunteer support grew during the course of the year and the Museum is grateful to a number of core volunteers who help to deliver our Education programme. In addition, a survey of the Museum s reserve collection and catalogue was carried out by a group of volunteers from NADFAS during the year. The Museum has also benefitted from two young student volunteers who have assisted with a documentation backlog and research of recent acquisitions. Collections/Research Collections Management During the Museum received several new acquisitions of stained glass panels, as well as designs and cartoons including: Two cherub heads, c.1915, by Margaret Chilton: Gift of Hilary Davies ( and ) Two large stained glass windows by J.W. Brown, designed for the New Church, Bath in 1909: purchased from The New Church Society, Blackpool ( and ) Five cartoons by Francis Spear, early 20 th -century: Gift of Simon Spear (C ) Maquette for the rose window of St Alban s Abbey by Alan Younger, c : donated by former Director of Laporte PLC ( ) An appeal was also launched in May 2013 to fundraise the purchase of four modern stained glass panels by British stained glass artist and sculptor Geoffrey Clarke. A number of books were also donated to the Museum and have subsequently been catalogued in the Museum s specialist research library. Part-time member of staff Elizabeth Gill has taken on the additional responsibility of librarian. Exhibitions Since the arrival of four new portable display cabinets in January 2013, four exhibitions have been held during the year. The first display Piecing together the Pollen roundel displayed the newly-conserved roundel of the Assumption of the Virgin Mary, designed by John Hungerford Pollen and made by Powell & Sons for a church in Rhyl, North Wales. It focussed on the architectural, religious and social context of this stained glass window. In Spring-Summer 2013 a large exhibition on twentieth-century stained glass artist Francis Spear ( ) was held. This featured stained glass panels in the Museum s collection with additional panels, designs, cartoons, and prints from private collections. An exhibition guide was produced by the Curator to accompany this exhibition. (right) During Autumn to Winter, a small exhibition entitled Painted Faces was mounted showing a variety of panels from a number of different periods to demonstrate the different painting techniques and effects which can be obtained with glass paint, stickwork and enamels. An additional display revealing the architectural context and history of the St Wilfrid window by Harry Clarke from the former Convent Chapel at Dowanhill, Glasgow, was mounted in preparation for a visit and gallery talk by Dr Nicola Gordon-Bowe. With the support of the Curator, a number of volunteers have played a key part in the research and preparation of these temporary exhibitions. 6

7 Review of Activities Events The 2013 Annual Lecture was held, for the first time, at The Art Worker s Guild, London. The well-attended lecture focused on the conservation of Thornton s east window at York Minster and was delivered by one of the Museum s Trustees Sarah Brown, Director of York Glazier s Trust. In the absence of a Study Weekend, a Study Day and summer picnic was held in June 2013 visiting churches along the borders of Norfolk and Suffolk. This pilot event was very well-supported and successful, and it is hoped more study days will be held in the future. After the success of the previous year, our Autumn Lecture series were held again in St Peter s Church, Ely. Our lecturers travelled from across the British Isles to speak to us. The topics ranged from stained glass conservation at the Burrell Collection (Marie Stumpff), the work of Harry Clarke and Wilhelmina Geddes (Dr Nicola Gordon-Bowe), stained glass in Wales (Martin Crampin), and the art and techniques of contemporary stained glass (Kate Baden Fuller). In addition to the series of lectures, several special events were held in the Museum gallery including a storytelling event inspired by a stained glass panel of Tristan & Isolde in the Museum s collection. This was a fully booked event which was enjoyed by all. The Stained Glass Museum also participated in some major local events including Ely Apple Day, the Cambridge Glass Fairs and the Ely Cathedral s Christmas Fair (left) and Flower Festival. These events have been important in raising the profile of the Museum locally as well as providing an extra income stream. Education This year the educational events and activities on offer have been as popular as ever. In particular the Museum has developed its programme of family activities during the school holidays. As part of Summer at the Museums, a University of Cambridge led initiative, the Stained Glass Museum held weekly drop-in sessions with a range of art and craft activities during July and August. In October half-term 2013 the Museum took part in the Big Draw, a nationwide campaign for drawing. Over the course of the year the Museum has been visited by over 1,500 children in visiting school groups. The Museum received special visits from Gifted and Talented groups and special needs groups. Visiting school groups took part in reenactments with medieval monk Theophilus, and Victorian stained glass studio Manager Mr Briggs, to learn more about the art of stained glass. In addition to gallery-based learning, school groups participated in a number of arts and craft-related activities. The Education Officer continues to work closely with Ely Cathedral and Ely Museum to deliver the education programme. The Officer was also involved in outreach by participating in a UK Day at Lakenheath American Middle School and a Careers Fair organised by the Ely Schools Partnership. The Education Officer, Education volunteer Sarah Hunt, and Curator attended Arts Award training and the Museum hopes to increase its engagement with secondary school groups and sixth-form students through this award in the next year. An exciting project to create a new piece of glass art for the new secondary school in Cambourne was begun, with local artist and Museum volunteer Sarah Hunt, during the summer of This collaborative project involved a series of visits to 7

8 the Museum and the school and will result in a glass art mobile being installed and unveiled in the main entrance of the new school next year. The Museum s annual course for A-level art students from King s School, Ely, run by local artist Althea Braithwaite, continued this year to much success. The museum remains grateful to all the education volunteers without whom it would not be possible to have such a dynamic and active Educational and outreach programme. Workshops The Museum s one-day practical workshops for adults in glass painting, fusing, and leading remain incredibly popular and successfully generate additional income for the Museum. Eleven workshops in total were held in the last year, the majority of which were fully booked. Friends The Friends group currently has around 200 members. The production of the bi-annual newsletter, Friend s correspondence and events are important aspects of the work of the Museum and as always, we are grateful to our Friends who support the Museum and its activities. Future Planning Over the next three years, the Trustees of the Museum will look to the Museum s future and aim to continue to develop the collection by acquiring new objects, to enhance the display and interpretation of exhibits in the main gallery and to make the collection accessible to multiple audiences. The Museum hopes that the new programme of changing temporary exhibitions will make a more varied display and provide new interpretations of exhibits, as well as attracting new and repeat visits to the Museum. The Museum aims to continue to develop its good working relationship with Ely Cathedral whilst building relationships with other arts and heritage organisations and academic institutions which specialise in stained glass studies. It is recognised that there is a need to continue to create engaging learning opportunities for all users and it is vital to continue to find funds to employ our part-time Education Officer to fulfil some of these needs. It is also recognised that further engagement with digital technology via the Museum s website, other digital platforms and social media may also enhance the accessibility, learning, enjoyment and interpretation of the Museum s collection. Projects over the next few years will seek to develop aspects of the Museum which have been identified as needing improvement, including collections management, public engagement and visitor services. These projects will make the most of existing limited resources - the building s accessibility and space, the Museum s small workforce, volunteers and supporters, but additional external funding will be sought to enable the projects to take place. They will also seek to make decisions about the Museum s future by considering the possibilities of expansion, relocation and restructuring. Superseding these aims is the core aim to improve the Museum s financial sustainability and its local and national reputation as a leading centre for the display and interpretation of stained glass. 8

9 STATEMENT OF TRUSTEES RESPONSIBILITIES Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and - select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will be able to continue to meet its objectives. The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 1993 and regulations made thereunder. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities. Date: 23 July 2014 Elizabeth Stazicker Chair of Trustees 9

10 INDEPENDENT EXAMINER S REPORT ON THE ACCOUNTS OF THE STAINED GLASS MUSEUM TRUST Independent Examiner's Report to the Trustees of The Stained Glass Museum Trust I report on the accounts of the Trust for the year ended 31 October 2013 which are set out on pages 10 to 18. Respective responsibilities of trustees and examiner The charity s trustees are responsible for the preparation of the accounts. The charity s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 43 of the 1993 Act; follow the procedures laid down in the General Directions given by the Charity Commission under section 43(7)(b) of the 1993 Act; and state whether particular matters have come to my attention. Basis of independent examiner's statement My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below. Independent examiner's statement In the course of my examination, no matter has come to my attention: 1 which gives me reasonable cause to believe that, in any material respect, the requirements: to keep proper accounting records in accordance with section 41 of the 1993 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 1993 Act; or have not been met; or 2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Price Bailey LLP Richmond House Broad Street Ely Cambs CB7 4AH 10

11 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2013 Incoming Resources Note Unrestricted Funds (Museum) Restricted Funds Total Funds 2013 Total Funds 2012 Donations, gifts and grants 14,673 24,589 39,262 35,585 Investment income 1, ,713 2,116 Admissions 50,822-50,822 54,983 Fundraising events 2,758-2,758 1,875 Museum trading 2 27,866-27,866 23,575 Other income Education activities 15,379-15,379 14,248 Total Incoming Resources 113,309 24, , ,588 Resources Expended Direct charitable expenditure 3 111,496 12, , ,742 Fund-raising and publicity 4 3,282-3,282 1,537 Governance costs 5 4,452-4,452 4,497 Total Resources Expended 6 119,230 12, , ,776 Net Incoming/ (Outgoing) Resources before Transfers (5,921) 11,757 5,836 17,812 Transfer between funds 12 (1,024) 1, Net Incoming/ (Outgoing) Resources before Other Recognised Gains and Losses Other Recognised Gains and Losses Gains/(losses) on investments (6,945) 12,781 5,836 17,812 Unrealised 9 (664) - (664) 400 Realised Net Movement in Funds (7,609) 12,781 5,172 18,212 Balances brought forward at 1 November 2012 Balances carried forward at 31 October , , , , , , , ,845 Note The notes on pages 12 to 18 form part of these accounts 11

12 BALANCE SHEET AT 31 OCTOBER 2013 Fixed Assets Note Tangible fixed assets 7 48,543 34,935 Heritage assets 8 62,945 61,921 Investments 9 16,463 17, , ,983 Current Assets Stock 7,136 5,826 Debtors 10 1,045 4,904 Short-term deposits 143, ,999 Cash at bank and in hand 29,459 38, , ,248 Liabilities Amounts falling due within one year 11 8,285 9,386 Net Current Assets 173, ,862 Net Assets 301, ,845 Funds 12 & 13 Unrestricted 179, ,522 Restricted 121, , , ,845 Approved by the Board of Trustees on 23 July 2014 and signed on its behalf by: Elizabeth Stazicker Trustee Michael Womack Trustee Note The notes on pages 12 to 18 form part of these accounts 12

13 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER Accounting Policies In preparing the accounts the following accounting policies have been complied with: (a) Basis of preparation The accounts have been prepared on the historic cost convention with the exception that investments are valued at market value. The accounts are in accordance with the applicable accounting standards, the Charities SORP 2005 (Accounting and Reporting by Charities) and comply with the Charities (Accounts and Reports) Regulations 2005 issued under the Charities Act (b) Fixed asset investments Investments are stated at market value as at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. (c) Irrecoverable VAT Irrecoverable VAT is charged against the category of resources expended for which it was incurred. (d) Fund structure Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or trust deed. There are two restricted funds: Appeal Fund and Research Post. Unrestricted funds comprise funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds which, the Trustees, at their discretion, have created for a specific purpose. Further details on the restricted funds are disclosed in note 12. (e) Incoming resources All incoming resources are recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Income received in advance of the relevant period is made available for use once the Museum is entitled to it. (f) Gifts in kind and legacies Gifts and legacies are recognised where and when there is an entitlement to them. Donated goods are recognised in different ways depending on how they are to be used by the charity: i. Those donated for onward transmission to beneficiaries are included in the statement of financial activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have to pay to acquire them. ii. Assets which are to be retained by the charity are recognised as income based on an estimate for the value of the asset. If the asset is to be retained indefinitely it may form part of the endowment fund. (g) Tangible assets Depreciation is provided to write off the cost of fixed assets over their useful lives by annual instalments. On assets purchased prior to 31 October 2012 this was calculated at the rate of 25% of reducing balances. On assets purchased after this date, the rate is 25% per annum on the original purchase price. This is with the exception of the new LED displays in the gallery; these have been depreciated over their useful life of around 10 years, approximately 30,000 hours. (h) Heritage assets The Museum has three collections of heritage assets which are held in support of the Museum s primary objective of increasing knowledge, understanding and appreciation of stained glass. The collections, comprising stained glass, cartoons, and other associated assets, are accounted for as follows: i. Heritage assets acquired before 1 November 2005 have not been capitalised because the cost of doing so would outweigh the benefits. 13

14 ii. iii. Depreciation is provided in respect of heritage assets to the residual value of the asset. The residual value is determined by the valuation of the asset by the curator or other external expert. Acquisitions are made by purchase or donation. Purchases are recorded at cost. Donations are recorded at the current value ascertained by the Museum s curator with reference, where possible, to others eg dealers or writers on stained glass who are considered to have appropriate experience or knowledge on the item being valued. Further details are shown in note 8. (i) Foreign currency Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. (j) Stock Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. (k) Pension The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. 14

15 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER Museum Trading Activities Turnover 27,866 23,575 Cost of sales 15,200 13,998 Gross profit 12,666 9,577 Unrestricted Funds Restricted Funds Total 2013 Total Direct Charitable Expenditure Museum operations 111,496 12, , , Fund-raising and Publicity Advertising Fund raising event expenses 2,660-2, ,282-3,282 1, Governance Costs of the Charity Salaries and office costs Independent examiner fee 3,150-3,150 3,830 Trustees travel expenses ,452-4,452 4,497 Note: Trustees are entitled to claim the lowest train fair for the travel or mileage costs at the rate of 25p per mile, depending on how direct the journey is from their base to the meeting venue. 15

16 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER Total Resources Expended Unrestricted Funds Salaries Other Costs Restricted Funds Appeals Sundry Restricted Funds Total 2013 Total 2012 Direct charitable expenditure 56,946 54,550 12, , ,742 Fund-raising and publicity - 3, ,282 1,537 Governance costs 549 3, ,452 4,497 57,495 61,735 12, , ,776 Salary costs represent the total emoluments paid to staff members who include the Curator (full time), and a part time Treasurer and Museum assistants. The pension costs amounted to Nil ( ) and employers National Insurance costs were 2,348 in the year (2012-2,227). The average number of employees was 8 (2012-7). The Trustees receive no remuneration. Unrestricted Funds Restricted Funds Direct Charitable Expenditure - Other Costs and Other Appeals Rent 7,805 7, Office expenses 7,252 4, ,537 Travel Electricity 3,804 3, Museum trading costs 14,334 13, Depreciation 1,159 1,813 5,313 2,501 Sundry repairs and maintenance 3,085 2,614 7,415 2,564 Insurance 1,871 1, Bank and credit card charges Recruitment Subscriptions Training courses Education courses 12,815 12, Entertaining ,550 50,326 12,859 6,602 16

17 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER Tangible Fixed Assets Library Books Audio & Office Equipment Display Equipment Total Cost as at 1 November ,699 26,929 22,206 59,834 Additions - 7,333 12,748 20,081 Disposals Cost as at 31 October ,699 34,262 34,954 79,915 Accumulated depreciation at 1 November ,678 2,221 24,899 Charge for year - 2,977 3,495 6,472 Accumulated depreciation at 31 October ,655 5,716 31,371 Net book value at 31 October ,699 8,607 29,238 48,544 Net book value at 31 October ,699 4,251 19,985 34,935 No depreciation is charged on the Library Books as, in the opinion of the Trustees, their value will remain stable. 8. Heritage Assets Stained Glass Cartoons Other Assets Total Cost At 1 November ,421 1, ,921 Additions 1, ,024 At 31 October ,445 1, ,945 The costs above represent items acquired since 1 November In addition the Museum holds a further 56 pieces of glass and 129 cartoons in its collection which were not previously capitalised. Items held on loan are not included within fixed assets. During the year the Museum received proceeds of Nil ( Nil) from the sale of Heritage Assets which had not previously been capitalised. 17

18 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER Investments Market value of investments at 1 November ,127 16,727 Additions - - Disposals - - Net unrealised investment gains/(losses) (664) 400 Market value at 31 October ,463 17,127 Historical cost at 31 October Debtors Prepayments Debtors 283 4, Liabilities: Amounts Falling Due Within One Year 1,045 4, Independent examiner fee 1,800 2,490 Staff salaries, tax and NI 4,578 4,586 Credit Card - Company Barclaycard 462 2,310 Telephone 65 - Annual lecture income in advance Study weekend income in advance 700-8,285 9,386 18

19 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER Restricted Funds Balance at 01 Movement in Resources Transfers Balance at 31 November 2012 Incoming Outgoing October Gallery project 5,500 25,393 (6,005) 24,888 Sundry restricted (395) Appeals 21,323 - (202) - 21,121 Heritage assets 61, ,921 89,504 25,421 (6,602) - 108, Gallery project 24,888 20,624 (12,689) - 32,823 Sundry restricted 393 1,027 (131) - 1,289 Appeals 21,121 2,965 (39) - 24,047 Heritage assets 61, ,024 62, ,323 24,616 (12,859) 1, ,104 The appeals fund is an ongoing appeal utilised for specific purposes such as acquisitions. Sundry restricted funds include minor (under 5,000) funding streams. The Gallery Project is the improvement and re-lighting of the gallery with grant funding from The Headley Trust and the Fens Adventurers Local Action Group. Heritage assets funds include stained glass, cartoons and various tools. Included in heritage assets this year were two new glass windows purchased for 1,024. These are called the Swedenborgian windows from New Church, Bath. 13. Analysis of Net Assets between Funds Fixed Assets Heritage Investments Current Total Assets Assets Unrestricted Funds 14,020-16, , ,913 Restricted Funds Appeal funds 5, ,938 24,047 Research post (177) - Sundry restricted ,289 1,289 Heritage assets - 62, ,945 Gallery project 29, ,585 32,823 48,544 62,945 16, , , Pensions The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to Nil ( ). Contributions totalling Nil ( Nil) were payable to the fund at the balance sheet date. 19

20 is located in Ely Cathedral in the South Triforium Opening Times Daily, except for Christmas Day, Boxing Day and Good Friday Monday to Saturday Sunday - 12 noon 4.30 t: e: admin@stainedglassmuseum.com w: We are most grateful to the following Benefactors and Grant givers who have supported the Museum during with gifts or grants of 1,000 or more: The Wyss Foundation The Glaziers Trust The Headley Trust The Fens Adventurers Rural Development Programme